France and England in North America, Part VII, Vol 1: A Half-Century of ConflictParkman, Francis
History
France and England in North America, Part VII, Vol 1: A Half-Century of Conflict
Parkman, Francis
Canada -- History -- To 1763 (New France); United States -- History -- Colonial period, ca. 1600-1775
That charlatan of genius, the Scotchman John Law, had undertaken, with
the eager support of the Regent Duke of Orleans, to deliver France from
financial ruin through a prodigious system of credit, of which
Louisiana, with its imaginary gold mines, was made the basis. The
government used every means to keep up the stock of the Mississippi
Company. It was ordered that the notes of the royal bank and all
certificates of public debt should be accepted at par in payment for its
shares. Powers and privileges were lavished on it. It was given the
monopoly of the French slave-trade, the monopoly of tobacco, the profits
of the royal mint, and the farming of the revenues of the kingdom.
Ingots of gold, pretending to have come from the new Eldorado of
Louisiana, were displayed in the shop-windows of Paris. The fever of
speculation rose to madness, and the shares of the company were inflated
to monstrous and insane proportions.
When Crozat resigned his charter, Louisiana, by the highest estimates,
contained about seven hundred souls, including soldiers, but not blacks
or Indians. Crozat's successors, however, say that the whole number of
whites, men, women, and children, was not above four hundred.[310] When
the Mississippi Company took the colony in charge, it was but a change
of despots. Louisiana was a prison. But while no inhabitant could leave
it without permission of the authorities, all Jews were expelled, and
all Protestants excluded. The colonists could buy nothing except from
the agents of the company, and sell nothing except to the same
all-powerful masters, always at prices fixed by them. Foreign vessels
were forbidden to enter any port of Louisiana, on pain of confiscation.
The coin in circulation was nearly all Spanish, and in less than two
years the Company, by a series of decrees, made changes of about eighty
per cent in its value. Freedom of conscience, freedom of speech, of
trade, and of action, were alike denied. Hence voluntary immigration was
not to be expected; "but," says the Duc de Saint-Simon, "the government
wished to establish effective settlements in these vast countries, after
the example of the English; and therefore, in order to people them,
vagabonds and beggars, male and female, including many women of the
town, were seized for the purpose both in Paris and throughout
France."[311] Saint-Simon approves these proceedings in themselves, as
tending at once to purge France and people Louisiana, but thinks the
business was managed in a way to cause needless exasperation among the
lower classes.
Public-domain text, read in full here on John Shaqi.
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